Economy: page 12

Baku. Iranian crude exports will remain a key source of market uncertainty in 2019, according to Fitch Solutions Macro Research.
"The US adopted a softer approach to sanctions than had been anticipated by the market, granting waivers to eight buyers of Iranian crude. The waivers will ...

Baku. By Sara Israfilbayova - Trend: BP plans to drill four new wells at Azerbaijan’s oil and gas fields in 2019. This was reported BP Azerbaijan Vice President Bakhtiyar Aslanbayli.
In particular, he noted that two exploration wells will be drilled in the shallow waters around the ...

Mexico. The Qatar Petroleum (QP) state-owned company reached an agreement with Italy’s Eni oil and gas company to buy 35 percent of the project, which includes three offshore oil fields in the Gulf of Mexico, Qatari Energy Minister and QP CEO Saad Sherida Al-Kaabi said, told Trend. ...

Moscow. Asian stocks fell with U. S. equity futures as caution returned to global markets, with data showing continued weakness in China’s economy. The yuan dropped with the Aussie, while the yen edged higher with Treasuries.
Shares in Hong Kong and Japan bore the brunt of declines ...

Moscow. Prices for gas imported by Ukraine from European countries hit a record high in November, according to data published by the country’s State Fiscal Service. The gas is most likely Russian in origin resold to Kiev at a premium.
The State Fiscal Service of Ukraine calculated an ...

Baku. In connection with the accident Dec. 12 on the Artem-Makhachkala power line of the Russian energy system, Azerbaijan’s energy system provided the Dagestan power grid (Derbent substation) with electricity of 140-160 MW from 08:52 to 20:51 (GMT +3), Trend reports citing Azerenergy ...

SIngapore. Oil prices rose on Thursday, buoyed by a drawdown in U. S. crude inventories and signs that China is taking more concrete steps to put a trade war truce with Washington into action.
Crude oil prices have also been supported by OPEC-led supply curbs announced last week, although ...

Khanty-Mansiisk. 19. 595 mln tons of oil were produced in KhMAD in November, which is 0. 804 mln tons less than in October, according to the estimates by the Oil and Gas Information Agency.
The average daily production decreased by 4. 8 thousand tpd and amounted to 653. 2 thousand tons. ...

Beijing. China’s crude oil imports averaged more than 10 million bpd for the first time ever in November, as they beat the previous record for highest crude imports set in October, according to Chinese customs data, as carried by Reuters.
Chinese crude oil imports surged to an ...

Moscow. Nigerian lenders are in retreat. Rising costs and declining appetite to lend is prompting banks to repay dollar borrowings.
Brent crude prices near their lowest levels in a year have slashed earnings from Nigeria’s main source of foreign income, reducing the amount of foreign ...

Ashgabat. A reporting meeting was held in the central building of the oil and gas complex of Turkmenistan, chaired by Deputy Prime Minister for the Fuel and Energy Complex Myratgeldi Meredov, Trend reports citing the Turkmengas State Concern.
At the meeting, information was provided on the ...

Moscow. Oil in London extended gains near $62 a barrel on prospects for a shrinking glut as the OPEC+ group agreed to curb output and protesters forced Libya’s biggest crude field to close.
Brent futures rose as much as 1. 1 percent after jumping 2. 7 percent on Friday as producers ...

Almetyevsk. The TATNEFT Company’s Elkhovo Oil Refinery (formerly the Elkhovo Oil Refinery Directorate of NGDU Elkhovneft) became part of the Tatneftegazpererabotka (UTNGP) Division of the Company.
The restructuring was carried out within the framework of configuring the “Oil and ...

Baku. Ñaspian pipeline consortium (CPC) loaded 5. 15 million tons of crude in November 2018 at the CPC Marine Terminal, which is 152, 726 tons more year-on-year, Trend reported with reference to the consortium.
Of them, 2. 38 million tons of crude oil were from the Tengiz field, 1. 19 ...

Singapore. Brent crude oil prices climbed on Monday after producer club OPEC and some non-affiliated suppliers last Friday agreed a supply cut of 1. 2 million barrels per day (bpd) from January.
Despite this, the outlook for next year remains muted on the back of an economic slowdown. ...

Moscow. The US is not in a position to tell OPEC or Saudi Arabia what to do, Saudi Energy Minister Khalid al-Falih told journalists when asked about Donald Trump’s reaction to curbing production of crude by the kingdom or the oil cartel.
“I don’t need approval from any ...

St. petersburg. The leaders of the countries of the Eurasian Economic Union (EAEU) have agreed on formation of common markets for gas, oil and petroleum products, Russian President Vladimir Putin said at an extended meeting of the Supreme Eurasian Economic Council.
"We have approved ...